Life insurance is an excellent way to protect the financial security of the people you love. It can be divided into two main categories, term insurance and permanent insurance.

Term Life Insurance

One benefit of term insurance is the ability to convert some or all of the coverage to permanent coverage at a later date with no additional medicals. You are therefore able to purchase a significant amount of life insurance when you are young, and then convert it to permanent coverage, at some point in the future, no matter your health.

Term 10 coverage

• lowest premiums for life insurance for the first 10 years

• policy renews automatically with premiums increasing every 10 years

• ideal insurance for families and young couples

Term 20 coverage

• lowest premiums for life insurance for the first 20 years

• policy renews automatically with premiums increasing every 20 years

• ideal insurance for mortgage and longer-term commitments

Term 65 coverage

• provides long-term coverage

• premiums remain unchanged until the age of 65

• ideal for longer-term commitments

Permanent Life Insurance

Permanent life insurance offers permanent protection for you and your family and can meet your investment needs. It can be purchased in three different ways:

Term 100

• can be purchased for the duration of your life

• no investment component

Universal Life Insurance

• provides coverage that never expires

• optional tax advantaged investment component that can be used to provide an additional source of income in later years

• premiums can be paid for life or for a limited period, such as 15 years (you pay premiums while you are working and your income in retirement funds your lifestyle expenses)

Whole Life Insurance

• permanent coverage that has an increasing death benefit and cash values over time

• complements your retirement strategy as you are able to access cash values on a tax advantaged basis

• allows you to pay premiums for a limited time while actively working in your career